A Scott’s Addition-based payroll company is increasing its presence in the Lone Star State.
Dominion Payroll Services earlier this month acquired Dallas-based PayVision Online. The deal closed Feb. 1. Terms were not disclosed.
The deal comes 18 months after DPS opened an office in Austin, Texas.
“It is an entrepreneurial hub down there,” said DPS co-founder and CEO David Gallagher. “We needed a more formidable presence there – an operations team, sales team, marketing team. It’s just jumping deeper into a market we’d had our toe in.”
Gallagher said DPS proposed the deal to PayVision, which the company had gotten to know through the industry over the years.
“We’ve worked together for a long time and we had an idea that a partnership might be there,” he said, adding that PayVision’s staff of 15 will be retained.
DPS will continue to keep an eye out for opportunities in Texas, where Gallagher said it has experienced solid growth since opening its Austin office.
“We’re well capitalized to grow through acquisitions,” he said. “For us the No. 1 thing is finding cultural fits. We ask, ‘Do their people match our people?’ and if the answer is ‘yes,’ we get pumped up about finding deals and making it happen.”
Last year, DPS moved its headquarters from downtown to the recently redeveloped Symbol Mattress property, a $33 million project at 3200 Rockbridge St.
The firm landed on Inc. Magazine’s 2017 Inc. 500 list, which ranks the nation’s fastest-growing private companies based on three-year revenue growth.
Gallagher is staying busy beyond his work at Dominion Payroll in Scott’s Addition, as well.
In December, he and a group of investors announced plans to open Tang & Biscuit Shuffleboard Club in an old warehouse at 3406 W. Moore St.